{"id":21032,"date":"2021-01-17T19:59:18","date_gmt":"2021-01-17T19:59:18","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=21032"},"modified":"2021-01-17T18:09:27","modified_gmt":"2021-01-17T18:09:27","slug":"china-issues-statement-on-kenyas-growing-debt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt","title":{"rendered":"China Issues Statement on Kenya’s Growing Debt"},"content":{"rendered":"

Africa-Press<\/a> – Kenya<\/a>. <\/strong><\/span>China has revealed that it is ready to suspend Kenya’s debt nearly a week after the country received the pardon from the Paris Club of international creditors.<\/p>\n

Kenya had made a request for its overwhelming debt obligations to be temporarily suspended to allow the economy to recover from the negative impact of the Covid-19 pandemic.<\/p>\n

In a statement, Chinese Embassy spokesperson Huang Xueqing confirmed that both channels were keeping efficient communication through a smooth channel.<\/p>\n

The embassy further noted that Beijing would accede to a debt relief request from Nairobi to strengthen coordination.<\/p>\n

The suspension is part of the Asian country’s measures to cushion developing countries from Covid-19 pandemic.<\/p>\n

\u201cAfrica\u2019s need is always China\u2019s concern. We stand ready to strengthen coordination with Kenya and assist Kenya in its efforts to address debt challenges.<\/p>\n

“Both sides are now keeping efficient communication through a smooth channel,” stated the Embassy.<\/p>\n

So far, China has suspended 12 African countries making it the country that has signed suspension agreements with the highest number of countries.<\/p>\n

\u201cChina attaches great importance to debt suspension and alleviation in African countries including Kenya and is committed to fully implementing the G20 Debt Service Suspension Initiative (DSSI),\u201d continued the embassy.<\/p>\n

Kenya owes China more than Ksh725 billion in bilateral debt with the total debt in the country expected to cross Ksh10 trillion mark.<\/p>\n

On Monday, January 11, the Paris Club of international creditors announced that they had granted Kenya a six-month debt suspension.<\/p>\n

The country filed for a Debt service suspension Initiative (DSSI) to the international creditor citing a number of reasons including the Covid-19 pandemic that has ravaged the economy.<\/p>\n

A total of 12 countries agreed to the move to grant the country more time to service their Ksh69 Billion.<\/p>\n

The countries include Australia, Austria, Brazil, Finland, Ireland, Israel, the Netherlands, Norway, the Russian Federation, Sweden, Switzerland and the United Kingdom.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. China has revealed that it is ready to suspend Kenya’s debt nearly a week after the country received the pardon from the Paris Club of international creditors. Kenya had made a request for its overwhelming debt obligations to be temporarily suspended to allow the economy to recover from the negative impact of […]<\/p>\n","protected":false},"author":84,"featured_media":21031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[6857,7003,544],"class_list":["post-21032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nChina Issues Statement on Kenya's Growing Debt - kenya<\/title>\n<meta name=\"description\" content=\"China has revealed that it is ready to suspend Kenya's debt nearly a week after the country received the pardon from the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Issues Statement on Kenya's Growing Debt\" \/>\n<meta property=\"og:description\" content=\"China has revealed that it is ready to suspend Kenya's debt nearly a week after the country received the pardon from the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-17T19:59:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/img-60047d421f0df.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"China Issues Statement on Kenya’s Growing Debt\",\"datePublished\":\"2021-01-17T19:59:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\"},\"wordCount\":324,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/01\/img-60047d421f0df.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/china-issues-statement-on-kenyas-growing-debt\",\"name\":\"China Issues Statement on Kenya's Growing Debt - 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